No More KYC with ShapeShift

  • Going forward, ShapeShift will not transact with customers.
  • Instead, ShapeShift makes it seamless for customers to trade directly with decentralized protocols.
  • Because we are ending all regulated activity, we will no longer require KYC.
  • And for the protection and dignity of our customers, ShapeShift will integrate decentralized protocols wherever possible going forward.
  • Today, the decentralized protocols we’ve integrated only support Ethereum and ERC20 assets. We expect native, non-wrapped Bitcoin and several other leading chains to be supported for decentralized trading in Q1 2021.
  • Customers who wish to trade non-ETH assets today can still do so under our old model. This still requires KYC, as we remain the counterparty on these trades. Relatively soon, this service will be retired completely.
  • The ShapeShift platform has integrations with partners that are still intermediaries, such as fiat onramps. Such partners still require KYC.
  • Customers who have previously KYC’d with us: we are legally required to keep your information for a period of several years.
  • Bad guys: we are not your friends. There are various ways of surveilling blockchain transactions that are far more effective than KYC. Not only will we continue to cooperate with authorities where required by law, but we actively collaborate with industry groups to monitor and root out sinister activity. We are here to protect good people, and as such, stand resolutely against evil.
The ShapeShift Self-Custody Crypto Platform




Toward peace, markets, and Bitcoin. CEO

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Launch of Ethereum 2.0: What are the implications and how is RioChain getting involved

👏We are so glad to introduce you the second video about: 𝐇𝐨𝐰 𝐭𝐨 𝐮𝐬𝐞 𝐭𝐡𝐞 𝐩𝐨𝐨𝐥…

Choice App x Fold App

How to Profit on BondAppétit Tokens

XBet Crypto: decentralisation in the gambling industry

Uniswap V3 migration, Tik-Tok, Songs, Dances, and Videos (Hollywood better watch out)

Intermediate Options Strategies with Opyn

Bitcoin, Ether, and DAO OH MY! Part I

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Erik Voorhees

Erik Voorhees

Toward peace, markets, and Bitcoin. CEO

More from Medium

SOL Snipers x Eclypse

Interview with former Legal Counsel Cardano Foundation Tilmar Goos on DeFi, Yield Farming, Tax and…

How to bridge MEM from Ethereum to Polygon Network

Token Update: 2084